Italy inflation still inflated?

Italy’s latest inflation figures have been released…

According to national statistics bureau Istat, the country’s inflation rate remained high but stable in April.

Basing its estimate on preliminary data, Istat revealed that inflation stood at 3.3% this month, the same figure as March. Definitive data for April will be released next month. In the meantime, Istat highlighted spikes in petrol, energy and food prices.

A spokesperson for Istat explained: “Petrol prices were up 8.7% in April over the same month last year, while energy prices were up 10.3% and electricity bills 9.2%. Food prices increased 5.5% this month compared to April 2007 while the price of pasta in particular rose a steep 18.6%. Milk, cheese and egg prices jumped 8.3% while fruit cost 6.3% more than a year ago”.

Italy's inflation rate rose to 3.3% in March from 2.8% in February. The March rate was the highest since inflation hit 3.4% in September 1996.